They believe democracy allows them to vote for lower prices and higher wages. Not hardly. Inflationism was put in place long ago, making some people winners and some people losers.
All tagged Inflation
Inflation: The Rumors of its Death are Greatly Exaggerated
Banks bitten in 2008, are, along with their regulators, twice shy to make the marginal loan. The short summary of Hanke’s remarks in the latest Grant’s Interest Rate Observer, includes, “But he invited the audience to imagine an upsurge in bank lending, perhaps stimulated by a Federal Reserve decision to pay a reduced rate of interest on excess reserves.”
The Fed Creates the Need for Side Hustles
Quart’s Sunday Times piece is entitled “The Con of the Side Hustle.” People taking on multiple jobs refer to them as “side hustles.” Which is kind of cute. Uber is recruiting online, not with the tagline “do you have to have a second job to pay your bills” but rather something cool, like, “Get your side hustle on.”
The Fed Makes Your Chicken Expensive
The NYT pair writes, “The fear now is that inflation will start to rise more quickly, potentially crimping global growth or forcing borrowing costs higher,” making it sound like inflation comes and goes with the wind.